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Oracle Accounting Hub Cloud 2021 Implementation Essentials - 1Z0-1060-21 real prep

1Z0-1060-21
  • Exam Code: 1Z0-1060-21
  • Exam Name: Oracle Accounting Hub Cloud 2021 Implementation Essentials
  • Updated: Oct 13, 2025
  • Q & A: 62 Questions and Answers
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Oracle Accounting Hub Cloud 2021 Implementation Essentials Sample Questions:

1. While creating a journal entry rule set you are NOT able to use an account rule that was createdrecently.
Which two reasons can explain this?

A) The account rule is defined with conditions that are not allowing the assignment.
B) The account rule is using sources that have not been assigned to the same event class that is associated to the journal entry rule set.
C) The account rule does not return any valid account value.
D) The account rule is defined with a different chart of accounts from the journal entry rule set.


2. What feature is NOT provided by Fusion Accounting Hub Reporting Cloud Service (FAHRC)?

A) provide real-time visibility to financial reports inFAH Reporting Cloud Service
B) upload transaction data into FAH Reporting Cloud Service
C) transfer Balances to FAH Reporting Cloud Service
D) synchronize setup data from Oracle R12 E-Business Suite to FAH Reporting Cloud Service


3. Which is used to track a specific transaction attribute on subledger journal entries?

A) value set rules
B) lookup value rules
C) supporting references
D) account rules


4. 'Insurances for Homes' company provide home insuranceservice. They have in-house built system that processes home insurance payments received from customers. The end result of the process consists of a listing of individual journal entries in a spreadsheet. They have requirements for getting all journal entries in a secure and auditable repository. Access will be limited to selective staff members. Additionally, be able to report and view the entries using an advanced reporting and analytical tools for slicing and dicing the journal entries.
Insurance premiumIs to be recognized as income across the coverage period of the insurance policy. What are the two types of journal lines that need to be set up to generate recurring journal entries for insurance premium in each accounting period?

A) Multiperiod and Recognition
B) Offsets and Recognition
C) Reversal and Recognition
D) Deferral and Recognition


5. Most of the accounting entries for transaction from the source system use TRANSACTION_AMOUNT as a source of the entered amount accounting attribute. For some events, you need to use the TAX_AMOUNT source.
At what level can you override the default accounting attribute assignment?

A) Event Class
B) Journal Line Rule
C) Journal Entry Rule Set
D) Journal Entry
E) Event Type


Solutions:

Question # 1
Answer: B,D
Question # 2
Answer: D
Question # 3
Answer: C
Question # 4
Answer: D
Question # 5
Answer: B

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